The marginal rate of substitution between two goods always equals the
a. marginal utility of one divided by the marginal utility of the other.
b. marginal utility of one times the marginal utility of the other.
c. price of one good divided by the price of the other.
d. Both a and c are correct.
a
Economics
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At all levels of production higher than the point where the marginal cost curve crosses the average variable cost curve, average variable cost
a. rises. b. remains unaffected. c. falls. d. All of the above are possible depending on the shape of the marginal cost curve.
Economics
A depreciation of the U.S. dollar against foreign currencies tends to __________ U.S. net exports and shift the U.S. AD curve to the __________
A) raise; right B) raise; left C) lower; right D) lower; left
Economics